by Anton Johan
PayPal, once considered a popular way to transfer funds over the internet for online gamblers, has slowly been making its way back to the industry.
PayPal began a gradual withdrawal from the industry in 2002, and by the time 2006 came along with its Unlawful Internet Gambling Enforcement Act passed in the United States, the company was hardly doing any business with online casinos, poker rooms or sports books.
However, the giant payment company realized that online gambling was going nowhere and, in a bid not to miss out on one of the fastest growing markets in the world, began a slow entrance back in.
PayPal was first re-spotted at online bingo sites serving UK players, and when this worked, the group went on to re-establish its relationship with 888.com.
It didn't take long for PayPal to join with other leading UK gambling groups and offer their services as a reputable banking method on their sites.
Ladbrokes and 32Red Casino both announced last month that they now support PayPal as a payment option on their sites.
This month, it is Virgin Casino's turn to make a similar announcement.
Rumours also have it that the newly formed Party Gaming/Bwin group will be signing an agreement with PayPal to have the system as an option on their giant network of gaming sites.
PayPal was founded in 1998 and has become a global leader in funds transfers over the internet, boasting over 150 million accounts around the world.
The group was bought by eBay in 2002.
